DLF, Hindustan Aeronautics can bounce back, says Mehul Kothari; check why

According to the technical analyst from Anand Rathi, shares of Hindustan Aeronautics can bounce back to Rs 2,700, while DLF can jump to Rs 370.

Mehul Kothari Mumbai
Web Exclusive


Hindustan Aeronautics (HAL)
Buy Near: Rs 2,570
Target: Rs 2,700
Stop Loss: Rs 2,510 
Few sessions back; we witnessed a trend line breakout in Hindustan Aeronautics near Rs 2,520 mark. Then after the stock underwent a rally towards Rs 2,750 and post that it retraced back to the extension of that same trend line.

Also Read

Here's why Mehul Kothari recommends to Buy Kothari Sugars, IEX

Mehul Kothari expects NLC India, DLF to gain in the near term; check why

Trading strategies in Persistent Systems, Wipro: Mehul Kothari

Mehul Kothari recommends Arvind Fashions, CAMS as top 'Diwali' picks

Mehul Kothari recommends Biocon, Aurobindo Pharma for trading gains

Here's why Ravi Nathani is bullish on Nifty Private Bank, PSU Bank indices

Nifty Midcap index dips below 200-DMA; remain on sidelines, analysts advise

Ravi Nathani decodes how to trade Nifty50, Nifty Bank amid volatility

How to trade Zee Entertainment as NCLT places it under insolvency process

Nandish Shah recommends a Bull Spread on Glenmark Pharma for March expiry

Now we are witnessing a bullish candlestick pattern on the daily scale which indicates resumption of the rally. Thus, we advise traders to go long in the stock near Rs 2,570 with a stop loss of Rs 2,510. 
Buy Near: Rs 350
Target: Rs 370
Stop Loss: Rs 340 

Since July 2022; DLF witnessed buying interest whenever it corrected near Rs 340 mark. At this juncture too it is trading near the multiple support zone of Rs 340.
The risk reward looks lucrative for short-term long trade since the stock might bounce towards its 200 DEMA placed near Rs 370. Thus, we advise traders to go long in the stock near Rs 350 with a stop loss of Rs 340. 

(Mehul Kothari - AVP – Technical Research, Anand Rathi Shares & Stock Brokers. Views are personal).


  • 1D
  • 5D
  • 1M
  • 3M
  • 6M
  • 5Y
  • MAX

First Published: Feb 28 2023 | 8:15 AM IST

Explore News